Question for those who have already been/at university!

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young_free
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Anyone who has been going to university or has already been to university care to enlighten us about your debt situation, how much you are currently having to pay back, how much debt is accumulating- basically how much debt have you left university with?

Those of us who haven't started uni yet, we know what we're getting ourselves into but can anyone offer a personal insight?
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Fluffy
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(Original post by young_free)
Anyone who has been going to university or has already been to university care to enlighten us about your debt situation, how much you are currently having to pay back, how much debt is accumulating- basically how much debt have you left university with?

Those of us who haven't started uni yet, we know what we're getting ourselves into but can anyone offer a personal insight?
It's best not to think about it!

I had around £4K of debt after my first degree, but I worked full time too...

I'm expecting to be £30-40K in debt after my medicine degree
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young_free
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Oh wow, most I've heard is 30- 40k sounds scary!
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Pencil
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I've finished my first year and I'm in no debt at all.

Income
£47 per week

Spendings
£10 per week - housekeep
£20 per week - bus to university
£5 per week - weekly KFC Meal

I normally work throughout the summer to pay off the tuition fees. At the moment, I have £3,000 loan money in my account and £1,000 which is my money.
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Fluffy
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(Original post by Pencil)
I've finished my first year and I'm in no debt at all.

Income
£47 per week

Spendings
£10 per week - housekeep
£20 per week - bus to university
£5 per week - weekly KFC Meal

I normally work throughout the summer to pay off the tuition fees. At the moment, I have £3,000 loan money in my account and £1,000 which is my money.
Er... You seem to have forgotten your loan! This is debt, contrary to public belief! Good for you if you don't touch it!

I'm guessing you're living at home?

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Leekey
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(Original post by Pencil)
I've finished my first year and I'm in no debt at all.

Income
£47 per week

Spendings
£10 per week - housekeep
£20 per week - bus to university
£5 per week - weekly KFC Meal

I normally work throughout the summer to pay off the tuition fees. At the moment, I have £3,000 loan money in my account and £1,000 which is my money.
*Worships Pencil's budgeting ability*

I on the other hand full intend to be in about £15k of debt upon leaving....purely through the joys of binge drinking and clothes shopping.
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an Siarach
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(Original post by young_free)
Anyone who has been going to university or has already been to university care to enlighten us about your debt situation, how much you are currently having to pay back, how much debt is accumulating- basically how much debt have you left university with?

Those of us who haven't started uni yet, we know what we're getting ourselves into but can anyone offer a personal insight?
All the whining about debt is greatly exaggerated. I lived a year in Glasgow and lived fairly easily despite having a pathetic little loan as i had the misfortune of not having low earning parents. If you intend going out and getting hammered every night then the debt situation will be considerable,if youre mainly going to university to study its totally survivable.
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an Siarach
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(Original post by Fluffy)
I'm expecting to be £30-40K in debt after my medicine degree
How are you gonna rack that up!?!? :eek:
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AT82
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I will be around £9000 in debt but I think its worth it.
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emom100
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i reckon by the end of my degree (4 year course) I wil be about 17 grand in debt with student loans. BY the 4th year I'll probably also be into my overdraft which I think at the moment is a max of 1200 leaving me over 18,000 in debt.I don't have to pay fees so my loan pretty much goes on accomodation and leaves me with about £600 over so i work in the summer for livingexoenses and aim to get about 1200. Still trying to work out how its possible to get 40,000 in debt... is that including your orignial debt from your first degree and are you intercollating?
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Masonne
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i graduated with £12000 debt. but it was a really odd set up and im not sure how much it actually cost as my parents helped lots and then sometimes they got the loan payment etc and its just all so messy. yuck.

i think £15,000 is the average.

my friend is stressing about graduating with £3000 debt. i nearly slapped her. :rolleyes:
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Fluffy
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(Original post by an Siarach)
How are you gonna rack that up!?!? :eek:
Easily!

£1,250 x 4
4 years of accommodation, living expenses, course materials, travel to campus, etc.
(year 5 = DoH bursary and fees paid)

Being mature - giving up job and not really being able to expect my parents to contribute! I haven't lived at home for 11 years now!

So I will be living off Student loans, I have a professional studies loan in place and any work I can do over the holidays. Doing medicine though, our hols are very short - only 2 weeks at Christmas and 2 at Easter, so not much scope there.
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~ o ~
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I'm expecting to be in around £12,000 debt at the end of my degree But if I get a job, hopefully it won't be too much
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Tajel
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$51,000
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master_chief
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are the figures that you guys are quoting including a student loan - typically £9k?
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Fluffy
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(Original post by master_chief)
are the figures that you guys are quoting including a student loan - typically £9k?
9K - where did you pluck that figure! Even on a longer than average course (in terms of days per year) and with London weighting you can't get 9K!
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master_chief
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3 years x £3000, which is the average student loan per year
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Fluffy
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"For the academic year 2004-2005, you may get a student loan of up to £4,095 (£5,050 if you are based in London, £3,240 if you are living with your parents). 75% of this is not means tested, that is, you are guaranteed that amount no matter what your family’s income is. Note that these figures are reduced slightly for the final year of your course."
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Fluffy
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(Original post by Pencil Queen)
You can over the entire 3 yr course....ie minimum student loan £3kpa * 3 yr course = £9k overall?
Sorry - I thought you meant pa!!! Nearly had kittens at the thought of 9K a year - that would make life almost livable!

Grr don't get me started on student 'loans' again!!! It's a bloody loan! So why cap it at such a pidly amount!
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LongGone
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(Original post by Fluffy)
Sorry - I thought you meant pa!!! Nearly had kittens at the thought of 9K a year - that would make life almost livable!

Grr don't get me started on student 'loans' again!!! It's a bloody loan! So why cap it at such a pidly amount!
Why's it lower in your final year as well? Thats just stupid. :mad:
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